Slaughter and May advised Accsys Technologies PLC in connection with its cash box placing
Slaughter and May advised Accsys Technologies PLC (“Accsys”) on its cash box placing to raise gross proceeds of approximately €20 million, which was announced on 25 May 2022. The cash box placing was conducted through an accelerated bookbuild process for institutional investors, with Numis Securities Limited, Investec Bank plc and ABN AMRO Bank N.V. acting as the joint bookrunners. The admission of new Accsys shares to listing and trading on Euronext Amsterdam and to trading on AIM took place on 30 May 2022.
Accsys intends to use the net proceeds of the cash box placing to strengthen the Accsys’ balance sheet, increase liquidity headroom and fund additional costs to complete the Arnhem Plant Reactor 4 capacity expansion. It will also provide increased working capital in FY23 to support the wider Accsys organisation in what is a pivotal year, as the equivalent of an additional 60,000m3 of new capacity projects are due to come online in the next three months, increasing the total capacity at Group level to 120,000m3.
Slaughter and May supported the in-house legal team at Accsys, led by General Counsel, Nick Hartigan, with support from Daniella Lloyd.